"Now I'm that annoying person who asks a million questions before signing anything."
Honestly, you're doing exactly what you should be doing. PMI can be a pain, but have you checked if your home's value has increased enough recently to make ditching it worthwhile? Could be worth another appraisal...
"Now I'm that annoying person who asks a million questions before signing anything."
Honestly, that's exactly what you *should* be doing. I've seen way too many people rush into mortgages without fully understanding PMI and end up regretting it later. You're already ahead of the game by being cautious.
If you're thinking about ditching PMI, here's a quick rundown of what I'd suggest:
1. Check your current loan-to-value ratio (LTV). If your home's value has gone up significantly, you might already be at or below the 80% threshold.
2. Consider getting a fresh appraisal—especially if your neighborhood has seen recent appreciation or you've made home improvements.
3. Reach out to your lender and ask about their specific process for removing PMI. Some lenders have different requirements or timelines.
4. Crunch the numbers carefully—factor in appraisal costs and any fees your lender might charge to remove PMI, then compare that to how much you'll save monthly.
I went through this myself last year, and honestly, the hassle was totally worth it in the long run. Good luck!
You're definitely not annoying—you're smart. I learned the hard way years back when I signed without asking enough questions... PMI stuck around way longer than I'd planned. You're doing it right by being thorough upfront.
Totally agree, asking questions upfront saves headaches later. When we bought our first place, I didn't even realize PMI could be removed early until a coworker casually mentioned it. Ended up saving us hundreds once we finally ditched it... wish I'd known sooner.
Haha, PMI is one of those sneaky little things nobody tells you about until you're knee-deep in mortgage paperwork, right? When we bought our house, I was so focused on interest rates and closing costs, I totally overlooked PMI removal. It wasn't until a client casually asked me about it that I realized I was still paying mine unnecessarily. Felt pretty silly as a mortgage broker missing that one... but hey, live and learn, right? Anyone else have a "wish I'd known sooner" mortgage moment?
